How can I become financially independent from my father Hi everyone. I’m a uni student F18 and a daughter of a retired navy veteran. Currently we bank with USAA and the truth is that I’m not really sure how to navigate this issue. I’ve been working since I was 15 and even before then my dad has stolen over thousands of dollars from me. Not only does he do it to me, but he does it to my sister, who is…

Starting to pay down on my debts aggressively. Which loan should I start repaying ASAP? Title is pretty self explanatory. Clearly the answer is all of them and be debt-free but I’m wondering if there is a benefit or smarter way to go about repaying these debts. I currently have ~$3,100 in credit card debt and ~$7,500 in student loans. I don’t make great money (40k/yearly) and I’m not getting student loan forgiveness (Business Major…

What do I focus my savings goal on first? I (m30) am finally credit card debt free. I paid $133k towards my credit cards this year. I feel incredibly relieved to be done with it, but immensely guilty for the deep hole I dug myself in. It wasn’t all frivolous spending. About $50k was debt from remodeling our first house to turn it into a rental. $5k was medical debt from an ER visit and…

How to educate my financially-averse spouse tldr; My spouse, who has always been a huge spender, has asked me to help her get her finances in order and to educate her financially. What can I tell her? Where do I start? Which topics should I cover and in which order? Any books she should read? Longer story: using a throwaway account since I am talking about my spouse. My spouse and I both …

Which debt strategy is best? I’m getting ready tonstart paying down debt but I’m struggling to decide the order in which I pay it. Should I pay off the highest interest rate first? This would save me in interest. Long term I’ll possibly pay less. Should I pay off the smallest bills first and snowball? This might lead to the fastest noticeable changes in my finances. I don’…

401k rollover mistake I rolled over a previous employer 401k into a Rollover IRA. 15k Accidentally contributed 1k to that account not knowing the tax nightmare that creates. I still have about 48k in a different old 401k account that I would like to consolidate. Question is, should I roll it over to the now mixed pretax/post tax account or keep it as is in its own …

Gifting $ to Unemployed Child I want to give $1000 or so to my unemployed child at Christmas. Can he put it in an IRA of some kind ? I think Roth would not be allowed since he’s unemployed, and had no income in 2024 Suggestions? submitted by /u/dunncrew

Sanity check on house buy. My wife and I are looking to purchase our second home (new build with a 9 month lead time). Doing this due to pregnancy and needing to grow, current house 2,080 sq ft and new being 3,128. Age: 34 and 33yr Income (me): $145.5k Income (wife): $70.2k Bonuses (yearly gross): $26k Monthly take home: $11,600 (with investments as outlined below) Debts…

Why are you buying I-bonds? Does anyone here invest into I-bonds? I’m curious. I know the reasoning but anyone here do it and not near retirement age? submitted by /u/The0Walrus

No spend month for Jan 2025 Entering 2025 in a few weeks, I want to challenge myself to have a “no spend” month in January. I have done no spend weeks but I want to really push myself in 2025 to reach a few financial goals of mine. In the past, I’ve had a hard time saying no to friends when they want to go out to local malls. Any advice for holding yourself accountable an…

Should I sell RSU immediately My company is offering me $30k subject to a 3 year annual vesting period. It’s a publicly traded company. Do I sell it all as soon as I get it or hold on to it? If anyone could explain how RSUs work that would help a lot. Do I get taxed on it if I sell? Do I get a flat 10k a year or will some of that be taxed? submitted by /u/OGpandas

Relative Wants On CC for Credit Boost I’m in a difficult situation here in that my father in law is asking to be added to one of my credit cards, allegedly to boost his credit for a mortgage refinance. I think he means as an authorized user and he is saying he doesn’t need a card and it would just be temporary. Obviously I know this is a bad idea and I do not want to mix family and…

Anxiety: Do I trim investing, or ‘pay myself back’ for a large purchase? I’m in a building phase with a new job after six months of unemployment. Retirement accounts are fully maxed. I never had to spend any of my six month emergency fund, but as I settle in I am throwing every spare cent I have to a taxable account to grow my EF to a full year. However…This is a self-made goal, with no deadline. I have some contac…

My dad had a stroke and now I don’t have anyone to help me make smart choices Here is the situation. I have a 2017 honda accord with 155k miles on it. Still owe 18k at 5% interest. I have about 3.5yrs left on the car note if I pay the minimum payment. KB vaules the car at 10k. The issue is the car has been horrible. Broken lane assist camera, replaced transmission, brakes, oil leak, replaced timing/serpentine belt and 2 c…

First gen American, not sure where to start investing.. My family doesn’t have any long term savings/ investments my dad told me he doesn’t believe in it. Anyways I’ve done some research finally got a high yield savings account. I was amazed as to how much they pay compared to my regular savings 🤯 Background I am 26 years old, moved to a HCOL area for better pay. Living with roommates rent is $950 (e…

My uncle is 58. Does it make sense for him to open a Roth IRA if he expects to work for at least 7 more years? Or is that too short and risky? Hello, My uncle is 58 and has never opened a Roth IRA. I was wondering if it would be a good idea to open a Roth IRA for him if he plans to work for 7-10 years. Is a 7-year period good enough or is it too short and thus risky? What’s the general consensus? All of his current savings right now are split between HYSA, checking, and cash. He had t…

Input Requested Please. I have $30k sitting in my credit union savings account. With an APY of 0.10%. Since that’s doing nothing beneficial for me and I’m finally in a position to “diversify”, I was thinking: $5k into a Schwab Brokerage, VOO, with dividends reinvested. $7k lump sum for my 2024 contribution into a Schwab Roth IRA, unsure of where to invest. $3k into …

Contributing over 20% for down payment vs investing I’m 31, in a relationship, and would like to purchase a house within the next 3 years. I currently have enough money saved in a HYSA for a 20% down payment, plus 6 months of household expenses. I am waiting to buy a home until after I get married (probably in 1-2 years – not technically engaged yet but gf and I are planning on it). My question i…

Husband and I are separating, but the house needs a new roof I’m not sure what to do here. I own a house that’s worth around 650k. We have an inground pool that we put in that we still owe around 90k. We were just informed that we are going to need to put a new roof on the house and got a quote for between 25 and 30,000.. My issue is my husband is a train wreck financially. It’s pretty much the entire rea…

Rent vs Buy in The Bay Area Potential first-time homeowner trying to decide if it makes more sense to keep renting or buy in the Bay Area (peninsula or south) knowing our plan is to move out in 5-7 years. I heard recently it is no longer advantageous for someone to buy in The Bay because of costs.HHI: Gross $400k, DINK for now. Assumptions: 20% down, 6.5% interest rate 30 …